Delek Logistics, Southcross Energy IPOs Rise in Debuts

The parade of IPOs from master limited partnerships from the energy sector continued Friday, as Delek Logistics Partners LP (DKL) and Southcross Energy Partners LP (SXE) each jumped 10% in their opening trades.

Common units of Delek Logistics Partners, which owns crude-oil storage and
pipeline assets from Texas to Tennessee, opened at $23.11, up 10% from their $21 IPO price. The company sold eight million common units, which trade like shares, at the high end of their expected range in a deal valued at $168 million.

Its units rose 11% to $23.23 recently on the New York Stock Exchange.

Southcross’s units opened at $22 on the NYSE, up also up 10% from their $20
offer price. The company sold nine million units priced in the middle of their
expected range in a $180 million offering.

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